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Nabors Industries Ltd. Message Board

  • djczing djczing Oct 12, 2006 10:13 AM Flag

    Big blocks

    The stocks been trading some large blocks since that rumor came out.

    I dropped some puts on my position at 30. Time to play crazy-legs.

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    • DJ,

      The blocks are not only in NBR, they're coming across my REAL TIME REUTERS screens in droves.

      I've especailly noted, RDC and THE.

      Looks to me like the S&P is going into a blowoff phase ala AU when it broke 700. The chart since mid July has gone completely parabolic.

      I think the DOW will cross 12K as it is the most widely followed index. Believe it or not, most investors in the market don't even know that the S&P 500 is!!

      After that, I'm looking for a correction approaching 20%.

      It's long overdue

      • 2 Replies to ryan5542002
      • Ryan,,,,what are you seeing on THE? I cannot see at work....and would be interested in your opinion of THE. Is THE at much higher than normal volumes? Are you talking calls or puts or what? Thanks Ryan,

      • Yup agreed - Ive been light and fast in the market for just that reason - frankly I expected a correction much sooner - but when bonds started coming down as well as oil it way-layed the correction I think.

        Earnings outlook may keep the dow from staying over 12k for long - and the market leaders have run too far and too fast, and the defensive stocks are overbought -- leaving very little to lead the market too much higher.

        Id love to short the retailers, but its not time yet.

        The fairly flat indexes the last couple weeks indicated to me that folks were waiting for earnings before they decided whether to get out or get in. The outlooks for Q4 will be the key.

        The market /needs/ to correct.

        Oh - and are they gonna put big flashing banners on cnbc every freakin time the dow crosses its previous high now ? I love the shows that say how the dow 'blasted' to new record highs -- heck the thing crawled and choked its way, all the way. Today is really the first real good day technically for the markets in awhile.

        So... what sectors gonna lead from here ?

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